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Edelweiss Financial ends deal to buy Religare Enterprises' securities biz

Edelweiss Financial Services Ltd.'s proposed acquisition of Religare Enterprises Ltd.'s securities business fell through after the seller failed to secure necessary approvals within the agreed timeline.

Edelweiss said in a March 16 stock exchange filing that the agreement ended March 15, the expected closing date of the transaction.

In December 2017, Edelweiss unit Edelweiss Wealth Management agreed to acquire the securities business, which includes securities and commodities broking, and depository participant services.